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Remington Simmons
BusinessBusiness
On January 1, 2014, Borstad Company purchased equipment for $1,180,000. It is depreciating the equipment over 25 years using the straight-line method and a zero residual value. Late in 2019, because of technological changes in the industry and reduced selling prices for its products, Borstad believes that its equipment may be impaired and will have a remaining useful life of 8 years. Borstad estimates that the equipment will produce cash inflows of $400,000 and will incur cash outflows of $295,000 each year for the next 8 years. It is not able to determine the fair value of the equipment based on a current selling price. Borstad's discount rate is 12%.

1. Prepare schedules to determine whether, at the end of 2019, the equipment is impaired and if so, the impairment loss to be recognized.

2. Prepare the journal entr to record the impairment.
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Kahlua
BusinessBusiness
How much of a pumpkin actually water?
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Dakota Ellison
BusinessBusiness
Roger's Meat Market is a chain of retail stores that limits its sales to fresh-cut meats. The stores have been very profitable in northern cities. However, when two stores were opened in the south, both lost money and had to be closed. Roger, the owner, has now concluded that no southern-based store should be opened as it would not be profitable. Which one of the following applies to RogerA) Confirmation bias

B) Endowment effect

C) Money illusion

D) Affect heuristic

E) Representativeness heuristic
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Norah
BusinessBusiness
Eaton Company issued $600,000 of eight percent, 20‑year bonds at 106 on January 1, 2013. Interest is payable semiannually on July 1 and January 1. Through January 1, 2019, Eaton amortized $5,000 of the bond premium. On January 1, 2019, Eaton retired the bonds at 103 (after making the interest payment on that date). Prepare the journal entry to record the bond retirement on January 1, 2019.
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Kenley Becker
BusinessBusiness
What are the three sections of the Statement of Cash Flows and what is the difference between and value of the information contained in each of these sections?
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Jordyn Rocha
BusinessBusiness
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 5,000 5,700 5,560 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,250 units. The budgeted production units for July are:
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Esteban Bowers
BusinessBusiness
The model of monopolistic competition characterizes the market for plumbing services in a city. This market is initially in long-run equilibrium, but then there is an increase in market demand for plumbing services. We expect that in the long run: a. firms will leave the plumbing market. b. there will be a short-run increase in the number of firms, but then the number will return to the original level. c. firms will shut down, but they will not leave the industry. d. new firms will enter the plumbing market.
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Haylie Cisneros
BusinessBusiness
Valorous Corporation will pay a dividend of $2.00 per share at this year's end (at t = 1) and a dividend of $2.50 per share at the end of next year (at t = 2). It is expected that the price of Valorous' stock will be $50 per share after two years (at t = 2). If Valorous has an equity cost of capital of 8%, what is the maximum price that a prudent investor would be willing to pay for a share of Valorous stock today?
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Ella Gallegos
BusinessBusiness
Hal Gore won a $2.25 million prize for special contributions to environmental research. This prize is awarded for public achievement, and Hal directed the awarding organization to transfer $510,000 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income?
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Weston Winters
BusinessBusiness
A trucking business is considering whether to give up its local delivery routes or to expand its long haul (over 100 miles) operations. In this decision, the wage costs of the additional drivers that will have to be hired for the long haul operations can best be described as a (n) :
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Carley Solomon
BusinessBusiness
The Two Dollar Store has a cost of equity of 11.2 percent, the YTM on the company's bonds is 5.8 percent, and the tax rate is 39 percent. If the company's debt-equity ratio is. 47, what is the weighted average cost of capital?
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Sarah Kaiser
BusinessBusiness
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as?
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Andre Bernard
BusinessBusiness
The PGA operates as two divisions: one that governs the club professionals who serve amateur players and another, known today as the PGA Tour, that governs the tour professionals, and schedules events such as the PGA Championship Tour, PGA Tour Canada, and the Web Tour.

a. true

b. false
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Jasper
BusinessBusiness
Which of the following is NOT a commonly recognized form of business ownership?

A. sole proprietorship

B. partnership

C. corporation

D. family
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Regina Lopez
BusinessBusiness
Consumers influence the decisions of producers in which of the following ways?

A. By setting prices for natural resources.

B. Because consumers are also workers.

C. Through the purchasing decisions they make.

D. Only in a planned economy.
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